“The second part of the strategy was is accelerate the development of new cars and trucks so we have a complete portfolio of cars and trucks,” Mulally said. “We will have 70% of our entire family of cars and trucks refreshed by 2008 and by 2010 we will have 100% refreshed. So, we believe that we’re making the cars and trucks now that people are going to value.”

He said Ford is cutting back on low-profit fleet sales and expects the company’s worldwide market share to stabilize at 14% to 15%.